Central Banking
Elizabeth Warren publicly rejects Powell reappointment
Senator calls Jerome Powell “a dangerous man to head up the Fed”
BoE urges public to spend remaining paper banknotes
Paper £20 and £50 will cease to be legal tender next year
BIS-led CBDC trial could cut cross-border transfer time by 80%
Cross-border CBDC project seeks faster, cheaper payments by cutting out middlemen
Bailey puzzles over UK labour market signals
A lot of people are still out of the labour market, but unemployment remains low
Brainard cites Delta in dovish speech
Fed governor warns “employment is still a bit short of the mark” for taper
Dallas Fed president resigns, following Boston’s Rosengren
Both faced criticism for equities trading and holdings, but are not unique among Fed leaders
Trust essential to success of global CBDC usage, panellists argue
CBDCs are yet to prove they offer advantages over private sector initiatives, say speakers at Bank of Italy event
Singapore and Malaysia to link payment systems
Regulators see potential of using distributed ledger technology in cross-border payment linkage
Zambia reinstates Kalyalya as central bank governor
Former World Bank official takes over following resignation of previous president’s central bank pick
Boston Fed president resigns, citing health
Rosengren had been accused of conflicts of interest due to real estate holdings
Biden nominates law professor for OCC
Saule Omarova favours more regulation and suggested the Fed take over deposits, alarming banks
UK looks to boost long-term investing
Working group says action needed to encourage illiquid investing without risking instability
Inequality sharpens monetary policy’s effects – ECB paper
Author analyses “inequality channel” using model with three types of heterogeneous agent
FOMC doubles ceiling for reverse repo bids
Participating institutions can now borrow up to $160 billion per bid
Authorities should consider stress-testing global supply chains – BoE paper
While global supply chains have not changed much, the shocks impacting them have, researchers say
China outlaws all crypto transactions and bans mining
PBoC, cyber watchdog and central economic planner act in a joint crackdown on crypto
Turkey cuts rates despite rising inflation
Central bank move comes after months of public pressure from Turkish president Erdoğan
Norges Bank becomes first in G10 to raise rates
Olsen forecasts further rise in December and report points to more hikes in 2022
RBNZ to tighten housing loan limits in November
“House prices remained unsustainable” despite earlier action, New Zealand governor Bascand says
Sectoral prices growing in importance as inflation driver – BIS paper
Monetary policy risks being “overly forceful” if it tries to respond, Borio and co-authors warn
Swedish central bank may join Eurosystem payments platforms
Sveriges Riksbank says Target2 and T2S could enhance policy but has security concerns
BoE cuts UK growth forecast
Inflation likely to stay above 4% for first half of 2022 amid supply constraints and energy squeeze – MPC
Brazilian central bank raises rates and promises further hikes
MPC forecasts policy rate will rise by 200 bp and cautions government against expansion
BoJ holds rates as Japan waits for new prime minister
Central bank warns of possible financial problems from persistent Covid-19